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Euro Heads Higher
Friday, 23 November 2012 16:38 GMT+2
 The euro rose to a new high on Friday, to 1.2931 against the dollar as optimism has improved that Greece’s lenders are nearing an agreement that will release aid.  The euro also gained momentum on a surprise German business sentiment reading improving to 101.40 which beat a forecast of a drop to 99.5.  The Japanese yen gained on a Japanese holiday, with the usd/jpy falling to 82.04.
 
 
Technical Analysis
Currency Pair EUR/USD GBP/USD EUR/GBP USD/JPY EUR/JPY EUR/CHF DOW
Resistance 2 1.2985 1.6040 0.8165 83.00 107.65 1.2090 13100
Resistance 1 1.2950 1.6020 0.8120 82.65 107.00 1.2070 12950
Market   1.2935 1.5975 0.8096 82.41 106.65 1.2045 12867
Support 1 1.2850 1.5915 0.8055 81.70 105.70 1.2030 12710
Support 2 1.2820 1.5880 0.8035 81.45 105.40 1.2000 12600
 
 
Trade Idea
 
EURUSD
As long as the pair remains above the 200 moving average on the four hour chart, the pair should be bought in dips.  Resistance now at 1.2950 and 1.3000.

 
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